Brunetti Oro owner buys headquarters site for a mouth-watering $6.2m

Popular Melbourne patisserie Brunetti Oro boss Yuri Angele has bought the building his business had been renting as its headquarters in a $6.2m deal.

The Brunswick Headquarters of celebrated cakemakers Brunetti Oro has been sold to the owner of the world renowned pastry business.

The site at 48-54 Weston St, Brunswick, had been about to hit the market, but it is understood the baker tenants famed for their sweet treats made the owner an offer of $6.2m ahead of time to take over the property.

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The site is a 1,600sq m single-level brick warehouse with a modern fit-out catering to both production in the factory and the cafe shopfront.

Brunetti Oro has been operating at this site since August 2021, under a 5-year lease, currently worth $241,020 a year in rental income with fixed annual increases.

Documents show a company registered in the name of Brunetti Oro boss Yuri Angele has placed a caveat over the Weston St property.
CVA Property Consultants director Ian Angelico said they were preparing marketing for the property, but following discussions with the tenant it become clear they were a prospective buyer.

Inside the much loved Brunetti’s Headquarters at 48-54 Weston St, Brunswick

The site at 48-54 Weston St, Brunswick, is a 1,600sq m single-level brick warehouse with a modern fit-out catering to both production in the factory and the cafe shopfront.

“There were a number of weeks of negotiations and we ended up striking a sale; it was on mutually beneficial terms for both parties,” Mr Angelico said.
“Brunetti Oro had been a fantastic tenant, the vendor felt he was morally doing the right thing by selling the property to them.”

The exterior of the Brunetti Oro cafe in Brunswick.

The agent said it was a pleasure to transact a sale to the much loved Melbourne patisserie.

“I’ve managed a lot of property over my career, it is always good when you can do business with an occupier of the building,” he said.
“A lot of vendors choose to take the property to market and in this case the right thing to do was to sell to the tenant.”
Brunetti established in 1956, has garnered recognition including the Best Italian Restaurant award from the Melbourne Food and Wine Festival and in 2017 expanded on its Melbourne CBD flagship store in Flinders Lane.

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